The E-Sylum:  Volume 10, Number 28, July 15, 2007, Article 21

ARTICLE PROFILES PETER YEUNG OF PANDA AMERICA

A question-and-answer style interview in the Daily Breeze of
California spotlights Peter Yeung of Panda America.

"When Peter Yeung was about 10 years old, his cousin gave him a rare
coin. That helped spark a passion for coins that lasts to this day.
Yeung, 40, is president and co-owner of Torrance coin trader Panda
America. The Torrance resident has owned the shop with his partner,
Kitty Quan, since 2005.

"Growing up in Pasadena, Yeung would visit his local bank to exchange
dollar bills for rolls of pennies. Then he would sift through the piles
of pennies in search of valuable coins, using a collector's book as
a reference.

"He would return the ordinary pennies to the bank for bills and keep
the more valuable coins. The next day, he would return to the bank
to exchange the bills for more pennies.

"By ninth grade, Yeung was working part time at a coin shop. His
passion led him to skip school on many Fridays. He started traveling
to coin shows in Las Vegas and New York.

"What challenges do you face?

"Helping all the government mints around the world sell as many
coins as possible. Each country issues more and more variants of
coins. It's like car manufacturers. They don't want to sell just
one model. They want to sell many models.

"What foreign country mints the most popular coins?

"China. They're the most popular, and they have the best long-term
value. They have a growing population and a very large collecting
base. The Chinese are savers in general. Collecting stamps and
coins is a huge hobby in China.  They've got a large secondary market
to keep the values.

"Who are your customers?

Mostly people in their mid-30s and up. Collecting coins has always
been referred to as a king's hobby in the old days. Traditionally,
it's been doctors, lawyers, people with high incomes. Now we're
finding a lot of people who are middle income. Because of the
explosion of the Internet, it has made collecting coins a lot
easier.

"What's your favorite coin?

"It's a U.S. coin from 1796, a $2.50 gold piece.

"What's the best part of your job?

"Having people bring coins that they thought had no value and
having me tell them it's of great value. Once in awhile, it's
like telling people they've won a small lottery. It's satisfying
to be able to help people.

"What's the worst part of your job?

"The opposite of that. Telling people their coins are not worth
anything, that their pennies are just regular pennies.

To read the complete article, see: Full Story

  Wayne Homren, Editor

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